Entrepreneur Valentine Aseyo pitched his company, Matador Meggings, on Shark Tank Season 15. Matador Meggings is an activewear brand that primarily makes leggings for men, designed with male anatomy in mind to ensure that private parts are not exposed.
Valentine identifies his invention as the “sports bra for men.” After becoming a yoga teacher and teaching women, he felt that something was missing. He started searching for men’s leggings that would prevent exposure of private parts, but couldn’t find any. So, he founded Matador Meggings.
This is the first company to provide a crotch solution in men’s leggings. So, did any of the Sharks invest in this business? Let’s find out what happened.
| Company Name | Matador Meggings | |
| Founder/Co-Founder | Valentine Aseyo | |
| Founded | Jan 2019 | |
| Product | leggings for men | |
| Asked For | $250k for 10% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S15 E2 | |
| Air Date | Oct 6th, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Greater New York City Area, United States | |
| Lifetime Worth (Sales) | $2M *estimated | |
| Valuation | $2.5 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Valentine Aseyo, an immigrant from Turkey to the USA, and also half Spanish, pursued a Bachelor of Science (BS) in Management Information Systems from Boston University. After working for 7 years at Facebook, he became a yoga teacher, focusing on teaching yoga to women. In March 2019, he founded Matador Meggings.
Business Pitch Episode Recap
Valentine demonstrated his product, leggings for men, to the Sharks, explaining that he has essentially invented a “sports bra” for men, incorporating a modesty pad that addresses the crotch area. He asked for $250,000 for 10% equity in his company.
Valentine highlighted that studies show compression pants enhance blood circulation and speed up recovery, improving performance and comfort during workouts. The company offers leggings, compression shorts, and bike gear in over 50 unique prints and bold colors.
The best features of the leggings include an open pocket for a phone, a zipper pocket, and a T-shirt towel loop at the back.
Kevin O’Leary asked if Valentine had made any money. Valentine responded that in less than 3 years, he has achieved a total sales of $2 million. Last year, 2022, sales were $620,000, and for 2023, the projection is $1 million.
Valentine manages the entire company solo, including product design, development, manufacturing, and marketing. The company currently has 50 SKUs. Each pair of leggings costs $18 to make and retails for $92.
Kevin asked about the sales for the first six months of this year. Valentine replied that so far, $200,000 in sales have been achieved, with 97% of the sales coming from direct-to-consumer channels.
Kevin feels that the business is more of a hobby for Valentine, so he is out.
Mark Cuban doesn’t believe the business can grow into a large enterprise, especially when competing with big brands like Nike, so he is out.
Lori Greiner said that based on the product, she is unsure if most guys will wear it, so she is out.
Daymond John said that this is not an investable business, so he is out.
Daniel Lubetzky feels that there is a missing targeted customer, so he is out.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Daniel Lubetzky | No Offer |
| Kevin O’Leary | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | No Counters |
| Final Deals | No Deals |
Matador Meggings Shark Tank Update
Unfortunately, the company did not secure a deal, but immediately after the episode aired, there was a significant boost in sales, and thousands of people visited the company’s website at one time.
As of August 2024, Matador Meggings has launched a new product called Tops, priced at $56 each. It is currently available only on their official website.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
